Indians conduct first UPI transactions in Sri Lanka, Mauritius (WATCH)
India's Unified Payments Interface (UPI) was launched in Sri Lanka and Mauritius on Monday in the presence of Prime Minister Narendra Modi, Sri Lanka President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth through video conferencing.
FollowThe first Unified Payments Interface (UPI) transactions by Indian citizens were executed in Sri Lanka and Mauritius on Monday in the presence of Prime Minister Narendra Modi, Sri Lanka President Ranil Wickremesinghe and Mauritius Prime Minister Pravind Jugnauth through video conferencing.
The launch of India's Unified Payments Interface (UPI) in Sri Lanka and Mauritius is aimed at fostering fintech connectivity. The Unified Payments Interface is an instant real-time payment system developed by the National Payments Corporation of India. UPI is a mobile-based payment system widely used in India, facilitating round-the-clock payments through a virtual payment address. It consolidates multiple bank accounts into a single app, offering various banking features in one convenient platform.
According to the Ministry, the recent launch extends UPI settlement services to Indian nationals travelling to Sri Lanka and Mauritius, as well as to Mauritian nationals travelling to India. Additionally, the extension of RuPay card services in Mauritius enables local banks to issue RuPay cards, facilitating transactions in both countries.
India's prominence in Fintech innovation and Digital Public Infrastructure was emphasized by the Ministry, citing the Prime Minister's commitment to sharing developmental experiences and innovations with partner countries. The launch is expected to enhance digital connectivity between India, Sri Lanka, and Mauritius, benefiting a diverse range of users with faster and seamless digital transactions.
The expansion of UPI services follows recent initiatives, including the establishment of a digital fee collection kiosk at the Indian Embassy in Bahrain, allowing Indians residing in Bahrain to conveniently pay for various services using debit and credit cards.
The launch in Sri Lanka and Mauritius follows the introduction of UPI in France, which occurred during the Republic Day reception at the Eiffel Tower in Paris on February 2, aligning with Prime Minister Modi's vision to globalize UPI. The availability of UPI for Indians visiting Sri Lanka and Mauritius, along with the extension of RuPay services, is expected to streamline payment processes, offering convenience and efficiency to travellers.
